Additional Information
Buying and selling can seem like a complicated process. It’s best to go in as knowledgeable as you can. Here’s a few resources with additional information to help you be better prepared.
FINTRAC
FINTRAC (or the Financial Transactions and Reports Analysis Centre of Canada) is Canada’s anti-money laundering and anti-terrorist financing supervisor. They ensure the compliance of businesses subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and generates actionable financial intelligence for Canada’s law enforcement and national security agencies while ensuring the protection of personal information under its control.
But what does this mean for you?
Your realtor is required by federal law to ask for, and verify, your personal information. This Act requires all REALTORS® to keep identification records, and track all funds during the real estate transaction.
Real Estate Commissions
Real estate commissions are fees payed to your real estate agent for their services. In Saskatchewan, there are two common methods for calculating the commission if it is not a flat fee.
–The commission is equal to the total of 6% of the first $100,000 of the selling price, 4% of the second $100,000, and 2% of any leftover exceeding amount
–The commission is equal to the total of 7% of the first $100,000 of the selling price and 3% of any leftover exceeding amount
Here’s a calculator for commission fees as well as some answers to Frequently Asked Questions
Get in Touch
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